Inspire Medical Systems, Inc. (NYSE:INSP) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury increased its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 49.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,229 shares of the company's stock after acquiring an additional 4,684 shares during the period. State of Tennessee Department of Treasury's holdings in Inspire Medical Systems were worth $2,638,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. First Horizon Advisors Inc. increased its holdings in shares of Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Huntington National Bank grew its stake in shares of Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock worth $32,000 after acquiring an additional 121 shares in the last quarter. Harbour Investments Inc. raised its position in Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after purchasing an additional 99 shares in the last quarter. AlphaQuest LLC increased its position in shares of Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after purchasing an additional 291 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Inspire Medical Systems by 61.9% in the fourth quarter. Quadrant Capital Group LLC now owns 327 shares of the company's stock valued at $61,000 after buying an additional 125 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock traded up $1.99 during mid-day trading on Friday, hitting $159.89. 505,704 shares of the company were exchanged, compared to its average volume of 584,319. The company has a market capitalization of $4.76 billion, a P/E ratio of 92.42, a PEG ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $256.11. The business's 50 day simple moving average is $160.65 and its two-hundred day simple moving average is $179.67.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. Equities research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

INSP has been the subject of several recent analyst reports. KeyCorp decreased their target price on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Piper Sandler cut their target price on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada lowered their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Robert W. Baird decreased their price target on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $218.90.

Insider Buying and Selling

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Randy Ban sold 25,584 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the sale, the insider now directly owns 7,259 shares of the company's stock, valued at $1,332,026.50. The trade was a 77.90 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.